Liberty Gold Announces Closing of C$12.5 Million Non-Brokered Private Placement Financing
Liberty Gold has concluded a non-brokered private placement financing, raising C$12.5 million. The company issued 35,715,362 units at C$0.35 per unit, each containing one common share and half a common share purchase warrant. Each warrant allows the holder to buy one common share at C$0.45 within 24 months.
The funds will be used for exploration drilling at Black Pine, engineering, development, economic studies, permitting programs in the Great Basin, and general working capital. The issued securities are under a hold period until September 18, 2024, and are not registered under the U.S. Securities Act.
- Raised C$12.5 million in financing.
- Issued 35,715,362 units at C$0.35 per unit.
- Each unit includes 1 common share and 1/2 common share purchase warrant.
- Warrants allow purchase of a common share at C$0.45 within 24 months.
- Funds will support exploration, engineering, development, and economic studies.
- Projects focused on high-priority target areas in the Great Basin.
- The issued securities are subject to a four-month and one day hold period.
- Securities not registered under the U.S. Securities Act, limiting their sale in the U.S.
- Potential shareholder dilution with the issuance of new shares and warrants.
VANCOUVER, British Columbia, May 21, 2024 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce the closing of the non-brokered, private placement financing raising proceeds of C
Under the Offering, the Company sold 35,715,362 units of the Company (the “Units”) at an issue price of C
The proceeds of the Offering will be used for exploration drilling on seven new high-priority target areas identified at Black Pine, engineering, development, economic studies and permitting programs for the Company's projects in the Great Basin and for general working capital.
All securities issued under the Offering are subject to a four month and one day hold period which will expire on September 18, 2024.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining. This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah. We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios.
For more information, visit libertygold.ca or contact:
Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
info@libertygold.ca
All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to Liberty Gold within the meaning of applicable securities laws, the use of proceeds of the offering, the timing and completion of the Preliminary Feasibility Study, the timing and completion of formal mine permitting, and the potential quantity and/or grade of minerals and Liberty Gold’s mineral resources. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “planned”, “expect”, “project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “potential”, and similar expressions, or describes a “goal”, or variation of such words and phrases or state that certain actions, events or results “may”, “should”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, the timing and success of future plans and objectives in the areas of sustainable development, health, safety, environment, community development; successful resolution of disputes and anticipated costs and expenditures and the timing of regulatory approvals. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.
Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca.
Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
FAQ
What is the amount raised in Liberty Gold's private placement financing announced on May 21, 2024?
How many units did Liberty Gold sell in the private placement?
What is the issue price per unit in Liberty Gold's latest financing?
What does each unit in Liberty Gold's financing consist of?
What is the exercise price of the warrants in Liberty Gold's financing?
How long are the warrants issued by Liberty Gold valid for?
What will Liberty Gold use the proceeds from the private placement for?
When does the hold period for the issued securities expire?
Are the securities from Liberty Gold's private placement registered under the U.S. Securities Act?
